January 28, 2016, Introduced by Senators JONES, SCHUITMAKER, BIEDA, SCHMIDT and HANSEN and referred to the Committee on Government Operations.
A bill to amend 1994 PA 451, entitled
"Natural resources and environmental protection act,"
by amending section 5204 (MCL 324.5204), as amended by 2012 PA 511.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 5204. (1) The strategic water quality initiatives fund is
created within the state treasury.
(2) The state treasurer may receive money or other assets from
any source for deposit into the fund. The state treasurer shall
direct the investment of the fund. The state treasurer shall credit
to the fund interest and earnings from fund investments. The
authority shall act as fiscal agent for the fund in accordance with
the shared credit rating act, 1985 PA 227, MCL 141.1051 to
141.1076.
(3) Money in the fund at the close of the fiscal year shall
remain in the fund and shall not lapse to the general fund.
(4) The authority in consultation with the department shall
expend money from the fund, upon appropriation, only for the
following:
(a) Loans under section 5202.
(b) Grants under sections 5204a, 5204d, and 5204e.
(c) Response activities to address nonpoint source water
pollution under section 5204b.
(d) Grants and loans for brownfield sites under section 5204c.
(e) Grants and loans for wetland mitigation banks under
section 5204f.
(f) Sampling and analysis of water samples of public water
supplies for contaminants listed in the state drinking water
standards under the safe drinking water act, 1976 PA 399, MCL
325.1001 to 325.1023.
(g) (f)
The costs of the authority and the
department in
administering the fund.
(5) The fund may be pledged as security for bonds to be issued
by the authority for the purpose of funding loans if authorized by
the state administrative board.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 98th Legislature are
enacted into law:
(a) Senate Bill No. 724.
(b) Senate Bill No. 726.